"TRADING IDEA FOR WEDNESDAY (12.05.2010)"

Euro Zone crisis is much bigger than the stimulas package. Investors are of the view that overall global economic scenario is far from satistactory The market participants appeared reluctant to build fresh positions even at lower levels as worries remained on the ability of Greece and other debt-laden euro zone countries to bring down their budget deficits.The Sensex closed yesteday at 17141 losing 189 points over its previous close. The Nifty closed 1.1 percent lower at 5,136.15. FIIs have turned sellers in the equity market and have pulled out nearly $669 million in the first week of May owing to problems in the euro zone, reducing net inflows so far in 2010 to around $5.8 billion. Further, the investors are looking for the IIP numbers, which will be released today. The rupee posted its biggest one-day decline in more than three months on Tuesday as the relief rally fuelled by the euro zone rescue package faded, with the dollar's gains against major currencies also weighing sentiment.
BUY NIFTY ABOVE 5119 WITH A STRICT STOPLOSS OF 5099 FOR A TARGET OF 5148-5168
SELL NIFTY BELOW 5149 WITH A STRICT STOPLOSS OF 5171 FOR A TARGET 5118-5199
BUY NIFTY 5200CE AROUND 54.60 WITH A STRICT STOPLOSS OF 47.35 FOR A TARGET OF 68-75
BUY NIFTY 5100PE AROUND 78.35 WITH A SRICT STOPLOSS OF 71.55 FOR A TARGET 90-99
BUY RELIANCE 1050CA AROUND 30.45 WITH A STRICT STOPLOSS OF 26 FOR A TARGET OF 37-43
BUY RELIANCE 1060PA AROUND 17.15 WITH A STRICT STOPLOSS OF 15 FOR A TARGET OF 22.85-25.35
Disclaimer: I have no position. May trade purely on intraday basis. I may have some interest on above reco. Traders/Investors are requested to trade as per their risk taking apetite.


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